Cristiano Ronaldo is part of a five-member investment group preparing a formal bid to buy Al-Nassr from Saudi Arabia’s Public Investment Fund, according to Portuguese outlet A Bola.
The report names AC Milan owner Gerry Cardinale alongside Ronaldo in the consortium, along with Saudi businessmen Ibrahim Al-Muhaidib, Mohammed Al-Khuraiji and Sharaf Al-Hariri. Cardinale is the chief executive of RedBird Capital Partners, which bought Milan in 2022.
No club, individual named in the report, or PIF representative has issued a statement confirming or denying it.
What The Consortium Is Reportedly Planning
Each of the five members would need to commit at least $100 million, or roughly €92 million, according to the report. That would give the group around $500 million in total capital if all five members make the full contribution.
PIF holds a 75 percent stake in Al-Nassr. The fund took control of the club in 2023 after acquiring majority stakes in four of Saudi Arabia’s biggest clubs as part of a wider restructuring of the country’s top flight.
Representatives from RedBird Capital and the rest of the consortium are expected to meet PIF leadership within 48 hours of the report’s publication, A Bola says. The meeting will determine whether PIF is willing to give up control of Al-Nassr and allow the proposed takeover to move forward.
Why Ronaldo's Involvement Stands Out
Ronaldo has played for Al-Nassr since January 2023 and remains the club’s most recognizable figure in Saudi Arabia and internationally. If the takeover goes ahead, Ronaldo would move from being Al-Nassr’s star player to having an ownership stake in the club.
Ronaldo also holds a reported 25 percent stake in Spanish club Almeria through his investment vehicle, CR7 Sports Investments. Al-Khuraiji, one of the five members of the Al-Nassr consortium, is also reported to own Almeria, meaning both men have business interests in the club.
Earlier reports this year described a potential buying group involving companies linked to Ronaldo, Al-Muhaidib, and RedBird rather than naming individual investors.
It is unclear whether that group is the same consortium reported by A Bola on Tuesday or a different version of the proposed takeover.
What Happens Next For Al-Nassr's Ownership
The report does not specify how much of PIF’s stake the consortium wants to buy, and no valuation for Al-Nassr has been made public. Earlier reports this year mentioned interest in a 70 percent stake as part of a formal sale process PIF was expected to begin in early 2027.
That timeline has not been confirmed in the latest report.
Al-Nassr has faced financial strain this year, with reports earlier in the year putting the club's debts above $213 million and describing tighter spending oversight from PIF, including restrictions on registering new signings without secured funding.
A change in ownership structure would arrive against that financial backdrop. Until PIF or the consortium comment directly, the scale and shape of any deal remain unconfirmed.
The meeting A Bola describes as imminent is expected to determine whether formal talks begin or the reported bid ends before it reaches PIF's board.
